Ethereum traders reduce their bullish bets as ETH struggles reclaim $3K
ETH price is stuck in a rut and these three metrics suggest the downtrend is nowhere near an end. Ether (ETH) is still in troubled waters after failing to break a five-week-long descending channel top for the third time in a row. The March 2 test of the $3,000 resistance was followed by a 17.5% correction in five days, which signals that buyers are somewhat reluctant to defend the price.To date, Ether suffers from high network transaction fees, even though it dropped from $19 in mid-February to the current $13 per transaction. While this is less than peaks seen previously, $13 per....
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Traders say Ethereum needs a monthly close above $2,250 to regain bullish momentum, but a bearish technical analysis pattern on the weekly timeframe threatens to push ETH price to new lows first. Crypto markets remain volatile and a handful of seasoned traders believe that the bearish trend will continue as long as stock markets are chasing new lows.Most investors would agree that crypto is now in a bear market and the current price action for Bitcoin (BTC) and Ethereum (ETH) suggest that capitulation and consolidation are a ways away.Data from Cointelegraph Markets Pro and TradingView....
Ethereum options traders are placing big bets on an ETH rally in June as EIP-1559 approaches. The price of Ether (ETH) is continuing to rally, reaching $2,000 on Friday on the back of strong technical momentum following a high-profile announcement from Visa.As Cointelegraph previously reported on Sunday, Visa will allow its partners to use USD Coin (USDC) on the Ethereum blockchain network to settle transactions.ETH futures total open interest. Source: Bybt.comSince then, the interest in Ethereum across both futures and options markets is seeing an uptick, with the former approaching $7....
The cost to purchase one Ethereum (ETH) token surged to its two-year high in the days leading up to its transformation into a proof-of-stake asset. The ETH/USD exchange rate [almost] hit $600 on Monday following a 6.21 percent upside move, its highest level since May 2018. Traders apprehensively increased their bullish bets on the pair […]
It has been a turbulent morning for the crypto market, with Bitcoin trending down towards $15,000 while creating headwinds for altcoins That being said, Ethereum has largely been able to dodge these headwinds, posting a strong recovery from its brief early-morning dip towards lows of $440 It is once again moving to reclaim its $450 resistance, and flipping this level into support is vital for the cryptocurrency to see any significant upwards momentum One trader […]